Grouper Financial Signs Contract to Buy 300,000-SF Former Burger King Headquarters

MIAMI-Grouper Financial Inc., a privately-owned real estate development company based in Miami, has signed a contract to buy the 300,000-sf former Burger King world headquarters complex there for “significantly less” than the asking price of $25 million, a spokeswoman tells GlobeSt.com. The seller is New Cutler Bay Corp and specific contract terms were not disclosed. If the sale is completed, the office complex will be renamed Palmetto Bay Village Center, according to Scott Silver, president of Grouper Financial. Hank Klein, vice president of Codina Realty Services Inc., is representing the seller, New Cutler Bay Corp.

The complex consists of office space in three buildings on 80 acres on Old Cutler Road at Southwest 184th Street. The main building is 220,000 sf on four stories with views of Biscayne Bay. The building includes class A office space, open-air terraces, two floors of covered parking, and the former Burger King cafeteria, dining rooms and employee fitness center. The building that housed the former Burger King test kitchens consists of two floors and a total of about 51,000 sf with covered parking on the ground floor. The third building includes 34,000 sf of class A office space on three floors.

“I’ve had my eye on this piece of real estate for many years and envision it becoming a significant part of the community,” Silver said in a statement. “The property’s substantial, well-maintained structures, superior office space, unsurpassed bay views and natural beauty position it as a premier destination.”